Newlake Capital Stock Price, News & Analysis

NewLake Capital Partners (OTCQX: NLCP), a key player in providing real estate capital to licensed cannabis businesses, has announced participation in several upcoming investor conferences in April 2023. The events include:

• GlobeSt. Net Lease Spring 2023 Conference, New York, NY on April 4.
• Sequire Cannabis & Psychedelics Virtual Conference on April 5.
• Benzinga Cannabis Capital Conference, Miami, FL on April 11.

These conferences will focus on crucial industry topics, including REITs' impact and debt financing in cannabis. Interested parties can register online or schedule one-on-one meetings with the management team.

NewLake Capital Partners reported a 35.7% increase in fourth quarter revenue to $12.2 million and a 59.6% surge in full year revenue to $44.8 million for 2022. Net income for Q4 2022 was $6.7 million, up from $4.3 million year-over-year. For the full year, net income reached $22.0 million, compared to $11.2 million in 2021. Funds from operations (FFO) for Q4 rose 51.3% to $10.5 million, while AFFO increased by 52.0% to $10.9 million. The dividend for Q1 2023 is set at $0.39 per share, maintaining an annualized rate of $1.56.

NewLake Capital Partners (OTCQX: NLCP) will host a conference call to discuss its fourth quarter and full year 2022 financial results on March 9, 2023, at 10:00 AM ET. The call will be accessible via phone and webcast, with a replay available until March 23, 2023. NewLake specializes in providing real estate capital to state-licensed cannabis operators through leaseback transactions and has a diversified portfolio including 32 cultivation facilities and dispensaries. Additional details can be found on their website.

NewLake Capital Partners (OTCQX: NLCP) has announced the tax treatment for its 2022 dividends to assist stockholders with their tax reporting. Four dividends were declared with rates of $0.33, $0.35, $0.37, and $0.39, totaling $1.44 per share in ordinary dividends. Payment for the last dividend occurred on January 13, 2023, with a record date of December 30, 2022. These dividends are classified as income for tax purposes. Stockholders are advised to consult their tax advisors regarding specific tax implications based on their investment scenarios.

NewLake Capital Partners (OTCQX: NLCP) announced a fourth quarter 2022 cash dividend of $0.39 per share, marking an annualized total of $1.56 per share. This is the seventh consecutive increase, reflecting a 5.4% increase quarter-over-quarter and 25.8% year-over-year. The dividend will be paid on January 13, 2023, to shareholders of record by December 30, 2022.

NewLake specializes in providing real estate capital to state-licensed cannabis operators through diverse funding methods.

NewLake Capital Partners (OTCQX: NLCP) announced that CEO Anthony Coniglio will participate in two upcoming virtual investor conferences in December 2022. The first, Wolfe Research’s Consumer Growth Conference, is set for December 5 at 4:00 p.m. ET, focusing on cannabis capital and products. The second, Cowen’s 5th Annual Cannabis Conference, will take place on December 8 at 10:50 a.m. ET, discussing cannabis lending portfolios. NewLake is a real estate investment trust offering capital to state-licensed cannabis operators through various methods.

NewLake Capital Partners, a key player in providing real estate capital to state-licensed cannabis operators, will feature its CEO, Anthony Coniglio, in two investor conferences this November. The first event, MJ BizCon 2022, will take place on November 16 in Las Vegas, focusing on cannabis real estate investment opportunities. The second, Bisnow's National Cannabis Commercial Real Estate Summit, is slated for November 30. NewLake specializes in sale-leaseback transactions and owns a portfolio comprising 32 cultivation facilities and dispensaries.

NewLake Capital Partners reported a 50% year-over-year increase in revenue for Q3 2022, totaling $12.1 million. Net income reached $6.5 million, up from $2.7 million the previous year. Funds from operations (FFO) and adjusted funds from operations (AFFO) also improved significantly, showing increases of 75% and 75.3% year-over-year, respectively. The company announced a stock repurchase program of up to $10 million and declared a dividend of $0.37 per share, reflecting confidence in its portfolio. A conference call is scheduled for November 10, 2022.